Craig Collard - Apr 3, 2023 Form 4 Insider Report for HERON THERAPEUTICS, INC. /DE/ (HRTX)

Signature
/s/ Lisa Peraza Attorney-in-fact for Craig A. Collard
Stock symbol
HRTX
Transactions as of
Apr 3, 2023
Transactions value $
$0
Form type
4
Date filed
4/5/2023, 05:10 PM
Previous filing
Mar 3, 2023
Next filing
May 24, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HRTX Employee Stock Option (Right to Buy) Award $0 +3M $0.00 3M Apr 3, 2023 Common Stock 3M $1.78 Direct F1
transaction HRTX Restricted Stock Units Award $0 +250K $0.00 250K Apr 3, 2023 Common Stock 250K $0.00 Direct F2
transaction HRTX Employee Performance Stock Option (Right to Buy) Award $0 +4.25M $0.00 4.25M Apr 3, 2023 Common Stock 4.25M $1.78 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The stock option vests and becomes exercisable with respect to 750,000 shares on the first anniversary of the date of grant, followed by 2,250,000 shares vesting ratably each month over the subsequent three years, such that 3,000,000 options will be fully vested on the four-year anniversary of the date of grant, subject to the Reporting Person's continued service to the Issuer through the vesting date.
F2 The restricted stock units vest in four equal annual installments beginning one year after the date of grant, subject to the Reporting Person's continued service to the Issuer through the vesting date.
F3 The stock option vests and becomes exercisable with respect to escalating portions of the option grant upon the Issuer's stock price reaching certain pre-established levels ranging from $4.50 to $9.00 per share, subject to the Reporting Person's continued service to the Issuer through the vesting date.